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Ireland: Tax probe for Sheehan private clinic

[This article was subject to a legal complaint]

THE Revenue Commissioners are conducting an audit of one of the main companies behind the development of the Galway Clinic, which has led the field in the current boom in private healthcare.

Blackrock Medical Partners, owned by James Sheehan, a leading medic, has revealed in accounts just filed with the Companies Office that it is “currently” being audited by the tax authorities. The accounts state that it “is impossible to quantify any interest or penalties” that may arise from the audit.

The accounts show Blackrock Medical Partners posted a profit of €4.1m in 2004. They were signed off by the company auditors on October 26 this year.

Separately, it emerged that shareholders in the Galway Clinic, who include beef baron Larry Goodman, have stumped up €2.1m in recent months to stem losses there.

The state-of-the-art facility incurred losses of €5.5m in 2004 and continued to be loss-making this year. The